Redwire (NYSE:RDW) Shares Up 3.2% - What's Next?

Key Points

• Redwire shares rose 3.2% on Thursday, briefly reaching $9.49 before settling at $9.2740, with trading volume about half of its average session level.
• Analyst sentiment is mixed but still leans positive: the stock has a Moderate Buy consensus and an average price target of $15.44, though some firms recently cut ratings while others raised targets or reiterated buy calls.
• Redwire’s latest quarterly results showed weak profitability, with EPS of -$0.40 versus an expected -$0.16 and revenue of $96.97 million below estimates, even as revenue grew 57.9% year over year.

Shares of Redwire Corporation (NYSE:RDW - Get Free Report) rose 3.2% on Thursday . The stock traded as high as $9.49 and last traded at $9.2740. Approximately 15,060,884 shares were traded during mid-day trading, a decline of 50% from the average session volume of 30,420,459 shares. The stock had previously closed at $8.99.

Analyst Ratings Changes

Several brokerages have recently issued reports on RDW. Canaccord Genuity Group raised their target price on shares of Redwire from $12.00 to $14.00 and gave the stock a "buy" rating in a report on Monday, May 11th. Wall Street Zen lowered shares of Redwire from a "hold" rating to a "sell" rating in a report on Saturday, July 4th. Alliance Global Partners reissued a "buy" rating on shares of Redwire in a research report on Wednesday, April 22nd. Jefferies Financial Group raised shares of Redwire to a "hold" rating in a report on Wednesday, June 10th. Finally, Truist Financial upgraded shares of Redwire to a "strong-buy" rating in a research report on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, three have issued a Hold rating and two have issued a Sell rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $15.44.

Redwire Stock Performance

The business has a fifty day moving average of $14.23 and a 200 day moving average of $11.39. The company has a market cap of $2.21 billion, a P/E ratio of -3.46 and a beta of 3.01. The company has a quick ratio of 1.37, a current ratio of 1.75 and a debt-to-equity ratio of 0.08.

Redwire (NYSE:RDW - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The company reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.16) by ($0.24). The company had revenue of $96.97 million during the quarter, compared to the consensus estimate of $105.94 million. Redwire had a negative net margin of 80.90% and a negative return on equity of 11.68%. The business's revenue was up 57.9% on a year-over-year basis. During the same quarter last year, the firm earned ($0.09) EPS. On average, equities analysts predict that Redwire Corporation will post -0.74 EPS for the current year.

Insider Buying and Selling at Redwire

In other news, Director Ae Red Holdings, Llc sold 1,070,565 shares of Redwire stock in a transaction dated Thursday, June 11th. The shares were sold at an average price of $21.48, for a total transaction of $22,995,736.20. Following the sale, the director owned 1,077,419 shares of the company's stock, valued at approximately $23,142,960.12. The trade was a 49.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.79% of the company's stock.

Institutional Trading of Redwire

Several institutional investors and hedge funds have recently bought and sold shares of RDW. JPMorgan Chase & Co. boosted its stake in Redwire by 2,556.0% during the third quarter. JPMorgan Chase & Co. now owns 577,271 shares of the company's stock worth $5,190,000 after acquiring an additional 555,536 shares in the last quarter. Capelight Capital Asset Management LP bought a new position in shares of Redwire during the fourth quarter valued at approximately $1,330,000. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of Redwire during the fourth quarter valued at approximately $7,676,000. Trivest Advisors Ltd purchased a new position in shares of Redwire during the first quarter valued at approximately $5,398,000. Finally, Harbor Capital Advisors Inc. purchased a new position in shares of Redwire during the fourth quarter valued at approximately $497,000. 8.10% of the stock is currently owned by hedge funds and other institutional investors.

About Redwire

Redwire Corporation is a space infrastructure company specializing in the design, engineering and manufacturing of mission-critical hardware and software for the spaceflight industry. The company's offerings include deployable structures, solar power systems, radio frequency antennas, advanced composites and transparent optics. Redwire serves a broad customer base that spans civil space agencies, national defense organizations and commercial satellite operators, helping enable missions ranging from communications and Earth observation to deep-space exploration.

Formed through the strategic combination of several specialized space technology firms, Redwire's portfolio encompasses both flight-proven hardware and cutting-edge in-space manufacturing capabilities.

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